400 Million Barrels of Oil Reserves Released, World Oil Prices Plummet!
Jakarta, Pintu News – Geopolitical tensions in the Middle East have once again shaken global energy markets. Crude oil prices jumped sharply to over $120 per barrel due to serious threats to the vital Strait of Hormuz. Responding to this precarious situation, the G7 member countries are considering the largest release of strategic oil reserves in history, reaching 400 million barrels. This move is predicted to have a major impact on the stability of world oil prices and the global economy.
G7 Unite to Face the Crisis: Largest Release of Oil Reserves in History
G7 governments are working on a plan for the coordinated release of up to 400 million barrels of strategic oil reserves. The initiative would be the largest intervention ever, surpassing similar measures during the first Gulf War and the 2011 Fukushima disaster. Coordination will be done through the International Energy Agency (IEA), with the United States, Japan, and one other G7 country having expressed initial support.
Japan, as the owner of the world’s third-largest oil reserves, is still monitoring the situation closely before making a final decision. The planned release of reserves immediately triggered a significant market reaction. Oil prices, which had surged to $120 per barrel, suddenly plummeted to $100.139, down almost 17% from its peak. At the time of writing, the price of oil stood at $103,682. This move by the G7 shows how serious the threat is, especially regarding the potential blockade of the Strait of Hormuz by Iran.
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Strait of Hormuz: Critical Point of World Energy Supply
The Strait of Hormuz is at the center of global attention as about 20% of global oil supplies pass through this narrow channel. The threat of a blockade from Iran has raised fears of a prolonged supply disruption that could destabilize the global economy. Japan is the most vulnerable country, as more than 90% of its crude oil imports depend on smooth shipping through the Strait of Hormuz.
If this route is disrupted, the impact on the economy of Japan and other oil-importing countries will be felt. The increase in oil prices in the United States over the past three months has reached more than $55 per barrel, almost double the previous price.
Economic models estimate that if prices stay at current levels, US Gross Domestic Product (GDP) growth could contract by 0.5%, equivalent to a loss of economic output of around $160 billion. Meanwhile, producing countries such as Iraq and Kuwait have started to shut down some of their production, and the United Arab Emirates is expected to follow suit. This further exacerbates the uncertainty of the world’s oil supply.
Market Volatility and the Impact on Traders and Monetary Policy
The extreme volatility of oil prices has caused huge losses among market participants. Blockchain analytics firm Arkham identified a crypto wallet belonging to a meme coin trader that lost up to $3.5 million from a $12 million crude oil short position, after prices surged more than 50% in a week.
On the other hand, another trader made a profit of over $1 million by opening a 5x leveraged short position just before the news of the G7 reserve release broke. Amidst this volatility, the debate over US monetary policy came to the fore. Investor Anthony Pompliano thinks the surge in oil prices should not be a reason for the Fed to hold off on cutting interest rates.
According to him, the US economy is currently in a structural deflationary environment, so a single commodity like oil is not strong enough to withstand monetary easing. Meanwhile, former President Donald Trump is optimistic that oil prices will drop dramatically once the Iranian nuclear threat subsides.
Conclusion
The G7’s move to massively release strategic oil reserves marks the world’s seriousness about the threat of a global energy crisis. However, analysts warn that this solution is only temporary, as the released reserves will have to be replenished in the future, potentially putting more pressure on oil prices. The stability of global oil prices now depends heavily on how quickly shipping lanes in the Strait of Hormuz can return to normal. The world is waiting to see whether this intervention stabilizes the market or delays a deeper crisis.
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Reference
- BeInCrypto. G7 Considers Oil Reserve Release Amid Hormuz Crisis. Accessed on March 10, 2026